Property Overview
This one-storey home at 730 Beach Avenue in East Elmwood is a compact, post-war bungalow built in 1955. Its key characteristic is its modest 750 sqft living area, which is notably smaller than most comparable homes in the area, city, and on the street itself. This is balanced by a renovated basement and a decently sized, roughly 4,160 sqft lot. The home’s assessed value is unremarkable for its immediate neighbourhood, sitting close to the local average. A significant data point is its 2019 sale price of $230k, which was considerably higher than its current assessed value, suggesting a market premium for its condition or location at that time.
The appeal here lies in its simplicity and manageability. It suits a first-time homebuyer, a downsizer, or an investor looking for a straightforward, single-level layout with modernized below-ground space. The lot size offers potential for outdoor enjoyment or future expansion, subject to approvals. A less obvious perspective is that its smaller-than-average square footage could mean lower utility costs and less maintenance, appealing to those seeking efficiency over space. However, buyers should be prepared that the home’s size is its defining trait, ranking in the lower tiers for living area when compared to peers.
Frequently Asked Questions
1. Is the house particularly small?
Yes. At 750 sqft, the living area is below the average for similar homes on Beach Avenue, in East Elmwood, and across Winnipeg. This makes it a compact, efficient layout.
2. How does the assessed value compare to the past sale price?
The home sold for $230,000 in May 2019. Its current assessed value is significantly lower at $24,400. This large difference is normal, as municipal assessments for tax purposes are not market valuations and often lag behind actual sale prices.
3. What does "renovated basement" mean?
The listing confirms the basement has been renovated, but the specific scope, quality, and permits for this work are not detailed. A buyer should investigate this further during viewings and through inquiries.
4. Who would this property suit best?
Its one-storey design and manageable size make it suitable for first-time buyers, empty-nesters looking to downsize, or an investor seeking a rental property with a modernized basement suite potential.
5. How does the lot size compare?
At just over 4,000 sqft, the lot is fairly typical for homes on Beach Avenue and in East Elmwood, though it is below the city-wide average. It provides a standard suburban yard space.